This invention relates to alloys for use in light water nuclear reactor (LWR) core structural components and fuel claddings. More particularly, this invention relates to a zirconium alloy with second phase vanadium precipitates which are stable with respect to neutron exposure and high temperature exposure. Still more particularly, this invention relates to a zirconium alloy having stable second phase vanadium precipitates, while containing tin levels below that of conventional zirconium alloys and various additional alloying elements This alloy is designed to function at high coolant temperatures and discharge burn-ups and to provide acceptable levels of creep resistance, neutron cross section, corrosion resistance, hydrogen uptake and fabricability.